Cigna Investments Inc. New Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Cigna Investments Inc. New cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,992 shares of the network equipment provider’s stock after selling 690 shares during the quarter. Cigna Investments Inc. New’s holdings in Cisco Systems were worth $2,427,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC boosted its stake in Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after buying an additional 5,885,879 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after acquiring an additional 5,223,800 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in Cisco Systems by 5,231.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after buying an additional 4,842,542 shares in the last quarter. National Bank of Canada FI increased its holdings in Cisco Systems by 79.6% in the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after buying an additional 3,975,028 shares in the last quarter. Finally, State Street Corp boosted its position in Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In related news, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the transaction, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the transaction, the executive vice president now directly owns 213,834 shares in the company, valued at $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 353,522 shares of company stock valued at $20,349,721. Corporate insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the topic of a number of analyst reports. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $73.00 in a research report on Monday, January 6th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Tuesday, January 28th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Wells Fargo & Company increased their price target on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Tigress Financial raised their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.72.

Cisco Systems Stock Up 0.9 %

CSCO opened at $62.81 on Tuesday. The business has a 50 day moving average price of $59.71 and a two-hundred day moving average price of $55.10. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The company has a market cap of $250.16 billion, a PE ratio of 26.96, a P/E/G ratio of 4.63 and a beta of 0.84. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $63.25.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 EPS. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.